CONSOLIDATED INCOME STATEMENT
Note |
NARL1 €'000 |
NAMA Group (excluding NARL) €'000 |
Year ended 31 December 2013 NAMA Group €'000 |
Year ended 31 December 2012 NAMA Group €'000 |
|
|---|---|---|---|---|---|
| Interest and fee income | 5 | 201,541 | 1,133,175 | 1,334,716 | 1,386,823 |
| Interest expense | 6 | (195,844) | (178,667) | (374,511) | (492,502) |
| Net interest income | 5,697 | 954,508 | 960,205 | 894,321 | |
| Other income / (expenses) | 7 | - | (2,860) | (2,860) | - |
| (Losses)/gains on derivative financial instruments | 8 |
(8,203) |
(46,008) |
(54,211) |
(37,939) |
| Net profit on disposal of loans and property assets; and surplus income | 9 |
- |
505,411 |
505,411 |
188,227 |
| Total operating income | (2,506) | 1,411,051 | 1,408,545 | 1,044,609 | |
| Administration expenses | 10 | (5,696) | (115,764) | (121,460) | (119,117) |
| Foreign exchange losses | 11 | - | (89,336) | (89,336) | (99,432) |
| Total operating expenses | (5,696) | (205,100) | (210,796) | (218,549) | |
| Operating profit before impairment | (8,202) | 1,205,951 | 1,197,749 | 826,060 | |
| Impairment charges on loans and receivables | 12 |
- |
(914,345) |
(914,345) |
(517,841) |
| Operating profit after impairment | (8,202) |
291,606 |
283,404 |
308,219 |
|
| Tax credit / (charge) | 13 | 2,051 | (71,853) | (69,802) | (76,266) |
| Profit for the year before dividend | (6,151) |
219,753 |
213,602 |
231,953 |
|
| Dividend paid | 15 | - | (2,162) | (2,162) | (3,457) |
| Profit for the year | (6,151) | 217,591 | 211,440 | 228,496 | |
| Profit attributable to: | |||||
| Owners of the Group | (6,151) | 217,591 | 211,440 | 228,496 |
The accompanying notes form an integral part of these consolidated financial statements.
On behalf of the Board
9 May 2014
Brendan McDonagh
Chief Executive Officer
Frank Daly
Chairman